Ghana Waves App
The public is being encouraged to take advantage of the zero charges on GhQR transactions and patronize the service.
Currently, payments made via GhQR are free, implying that anyone who pays through the platform will not pay charges but just the cost of the item.
Patronizing such a service could trigger other electronic platforms to consider reducing their charges or remove them completely.
GhQR is an electronic payment channel that enables customers to scan displayed QR codes with their smartphones and pay, or dial displayed USSD codes with their phones to make payment.
Ghana’s QR code for payment is universal, which means that any customer whose bank or payment service provider offers the service can use it wherever it is displayed.
It is considered a game-changer in the cash-lite agenda, as it is easier to set up, less expensive to manage and payments made on the GhQR platform hit the account of the merchant or receiver instantly.
QR code is fast becoming a preferred form of payment particularly in Asia and spreading to other parts of the world. Ghana launched the service last year and a number of shopping outlets have been set up to offer the service.
In an interview, the Chief Executive of Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), Archie Hesse, urged the public to go for GhQR wherever the service is available.
He explained that it was very convenient as it takes no time for payments to be effected.
“With GhQR, no time is wasted making payment, and issues of change don’t arise at all, besides it is secured and leaves an audit trail for business owners to know their transaction history”.
Mr. Hesse also explained that GhQR offers the public the opportunity to make payments electronically without paying charges, and added that patronizing this will send signals that the volume of transactions on other electronic payment channels will go up when charges are reduced or taken out completely.
Some concerns have been expressed about charges on electronic payment channels, with calls on service providers to reduce the cost of their services. Mr. Hesse said if free services such as GhQR do not witness a corresponding increase in patronage, service providers may not readily see that waving costs on other channels will lead to a more than proportionate increase in the volume of transactions.
Mr. Hesse also encouraged shop owners to find persuasive ways to encourage their customers to pay via the GhQR platform because of the benefits that accrue to both the merchant and the customer.